VPC continues shift away from P2P with sale of Prosper loans

VICTORY Park Capital Specialty Lending (VPC) has announced the sale of its Prosper marketplace loans as it continues to shift its portfolio from peer-to-peer lending towards balance sheet assets.

The alternative-finance focused investment trust used its November monthly report to reveal it had sold loans held with the US platform during November and had subsequently reduced its marketplace loan exposure to 3.4 per cent of its portfolio.

The money raised has been reinvested into other balance sheet investments, which now account for 79 per cent of its portfolio, up from 70 per cent in November.

Its report showed the fund reached its highest net asset value (NAV) return for eight months during November at 0.55 per cent, just below the previous high that year of 0.57 per cent in March.

Despite record gross revenue returns of 0.91 per cent from VPC’s balance sheet loans, its monthly revenue return was 0.82 per cent, which was then pulled down by capital losses of 0.27 per cent, leaving a NAV return of 0.55 per cent.